San Francisco-based fintech and crypto startup, Ripple has made its ninth annual Disruptor 50, a prestigious list that names private companies leading out of the pandemic with business models and growth rates aligned with a quick technological change pace.
Most of the businesses listed on the CNBC Disruptor 50 are already billion-dollar businesses and as such, investors have taken note that the companies on the 2021 Disruptor 50 list have become critical players in fundamental economic and consumer transformations.
All businesses are listed according to the Disruptor 50 methodology that states they must all be founded after Jan. 1, 2006. Companies nominated were required to submit a detailed analysis, including key quantitative and qualitative information, and have raised over $72 billion in venture capital, according to PitchBook, at an implied Disruptor 50 valuation of more than $388 billion.
Technologies including AI, 5G, cloud computing and the Internet of Things are key to many companies making the 2021 Disruptor 50 list. The Disruptor 50 list spans various sectors. These sectors include financial services, health care, biotech, education, food, media, agriculture and transportation.
Ripple’s cross-border payment service continues to thrive despite ongoing legal proceedings with U.S. regulators. CNBC’s Disruptor 50 list cites the potential for Ripple’s ongoing lawsuit to set a precedent for the crypto industry as one of the reasons for its selection.
Although Ripple’s XRP token took a nosedive following the announcement of the lawsuit, the token has soared alongside a resurging crypto market performance. The lawsuit ending in Ripple’s favor could lead to even more adoption of the cryptocurrency.
Meanwhile, this is not the first time Ripple has made it to the Disruptor 50 list. It was listed for the first time in June 2020 as it ranked number 28 on the list, although popular student loan platform SoFi, which recently added crypto-related offerings, was also recognized for its exploits in simplifying investment processes for retail users.
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